Pre-open comment Thursday 9th April Wednesday generated the fourth consecutive Value Area above the 2045.00 poc, see yesterday’s comments. As long as ES holds above 2045.00 it is in a strong price location. Dayframe: In the ST the v minor poc (10day) has migrated to 2072.00 and this level could be intraday Support or Resistance […]

Pre-open comment Wednesday 8th April Since the 7mn poc migrated to 2045.00 on 04/01 we have had three consecutive Value Areas generated above that level and technical improvement in breadth numbers and Price momentum. See also Sentiment, below. As long as ES holds above 2045.00 it is in a strong price location. Next positive would […]

Pre-open comment Tuesday 7th April See Thursday’s highlighted comments. Monday’s session generated a higher, wider Value Area with Reactive Buying (green-at-bottom) marked above First Level Support at 2045.00. As long as ES holds above 2045.00 it is in a strong price location. Time below this level would indicate weakness. Breadth numbers improved, see below. First […]

Pre-open comment Thursday 2nd April See yesterday’s highlighted comments. Wednesday’s session generated a lower Value Area but entirely above First Level Support at 2045.00 which was tested and rejected early in the session and provided intraday Support later in the day. Bulls would hope to see Significant Buying marked above this level. Time below 2045.00 […]

Pre-open comment Wednesday 1st April Although ES managed to hold above 2066.50 for most of Tuesday’s session, see yesterday’s comments, a late sell-off meant that Aggressive Selling (red-at-bottom) was marked again. And two things of note happened overnight. Firstly, ES declined sharply to test our First Level Support at 2033.50, in fact that was the […]

            Pre-open comment Tuesday 31st March Monday opened just below 2066.50 and immediately rallied with the session generating a Value Area entirely above that level. However overnight ES has retraced the gains and pre-open prints just below the poc, which could be intraday Support or Resistance today. Significant Buying has […]

Pre-open comment Monday 30th March Last week I marked Significant Selling twice and no Significant Buying. Importantly, the Support at 2033.50 has not yet been broken, see chart. Time below that level would be weaker price location. Overnight ES has rallied to probe above 2066.50, First Level Resistance, but one hour pre-open is printing just […]

Pre-open comment Friday 27th March Thursday generated a third consecutive lower Value Area. The Support at 2033.50 has not yet been broken – price below this level would be weaker price location. First Level Resistance = 2066.50 (7mn poc) First Level Support = 2033.50 (previous poc) Stock Index ETFs: Momentum (PriceOsc) is positive for IWM […]

Pre-open comment Thursday 26th March Wednesday generated another lower, wider Value Area and Aggressive Selling was marked again, see yesterday’s highlighted comments The Support at 2066.50 did not hold and overnight ES has tested the next level of Support at 2033.50. If ES prints below 2066.50 it is in a weak price location. I will […]

Pre-open comment Wednesday 25th March Tuesday generated a lower, wider Value Area and Aggressive Selling was marked for the first time in ten days. These red-at-bottom lows are tested within a day (or two) 80% of the time. If ES declines further there is Support at 2066.50 and as long as chart holds above this […]